Invesco Variable Rate Preferred Shares UCITS ETF (VRPS.L)

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The Invesco Variable Rate Preferred Shares UCITS ETF Dist strives to replicate the net total return performance of the ICE Diversified Variable Rates Preferred & Hybrid Securities Index, after deducting all fees. Dividends are distributed to investors on a quarterly schedule. The underlying benchmark tracks US-dollar-denominated preferred securities and certain hybrid instruments functionally equivalent to preferred stock, all of which feature variable or floating rates and are issued within the US domestic market. Index constituents are weighted by market capitalization, subject to a 10% individual issuer cap, and with a further restriction that issuers individually exceeding 4.5% of the index cannot collectively constitute more than 40% of its total value. The fund's strategy involves, as far as feasible, physically acquiring and retaining all the index securities in their designated proportions to meet its investment goal. Both the Reference Index and the fund's portfolio undergo rebalancing and reconstitution on a monthly basis. This is a passively managed, index-tracking ETF; an investment represents the acquisition of fund units rather than direct ownership of the underlying assets it holds.